Series of tasks and records of an entity by which transactions are processed as a means of maintaining financial records
Accounting system
All the policies and procedures adopted by the management of an entity to assist in achieving management’s objective of ensuring, as far as practicable, orderly and efficient conduct of its business, etc.
Internal Control System
Internal Control Components (PSA 315)
Control environment; Entity’s risk assessment process; Information system, Control Activities, Monitoring
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